New Delhi, May 28 -- A line of flexible, short-term borrowing, credit cards assist with tracking expenses, simplify payments and offer valuable benefits from banks and lenders, besides helping build your credit score. However, they are also among the personal finance tools with the highest interest rates and have a slew of additional charges and fees attached.

Credit cards charges and fees include joining fee, annual fee, cash advance fee, overlimit charges, late payment charges, reward redemption fee, foreign currency mark-up fee and transaction charges, lounge access and concierge charges. For first-time users, it is especially important to do adequate research and compare various cards available to check for which is best suited for y...